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| Real Estate Environmental Risk Assessment
Asbestos Asbestos containing materials significantly impact the value of real estate property. Most buildings built prior to 1975 have some asbestos containing materials in them. Even buildings built today can be constructed with some asbestos containing materials. Prospective buyers and/or sellers should have this potential risk evaluated to quantify the asbestos removal costs and potential health hazards. Radon Many homes in this country have excessive levels of naturally-occurring radon gas. This can pose a significant health threat to family members. It is estimated that as many as 30,000 people die of lung cancer each year as a result of residential radon exposure. Prospective homeowners should inquire about the level of radon in a home they may wish to buy. Radon levels can be reduced in existing homes through various methods. This potential hazard and the associated remediation costs should be evaluated to properly assess the value of a home. Hazardous Waste Contamination Buildings previously used for storage or manufacturing may have remaining hazardous waste contamination of the ground or building and may also contain leaking underground storage tanks. New owners can be held liable for cleaning up these hazardous wastes and may even incur EPA fines. Prospective real estate buyers or investors should have these potential liabilities identified prior to purchasing a piece of industrial or commercial property. Also, clean up of environmental liabilities prior to property sale is currently required by many lending institutions. Lead Based Paints Lead based paints are a concern for residential and industrial properties. In residential properties they can pose a health risk, particularly to younger children. In the industrial setting, sand blasting, or power washing of lead painted materials can easily result in excessive lead exposure. Identifying building materials that contain lead is important to protect the health of maintenance or contractor employees. Some local building departments may also require identification of lead paint surfaces on structures. Microbial Contamination Mold and bacterial contamination can occur in a residence or commercial building for a variety of reasons. This can include:
Microbial contamination can lead to structural damage and poor indoor air quality. Evaluation of moisture sources and elimination and removal of affected materials is critical in controlling this environmental hazard. For more information on OEHCS real estate assessment services, please call us at: (630) 325-2083. |
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OEHCS,
Inc. offers comprehensive and confidential site assessment services.
Many real estate sellers and buyers can be unaware of the potential
liabilities present in their property. The presence of such risks
can significantly affect property values and future salability.